After tackling immediate problems, such as accessing electricity and arranging cash deliveries, bankers are facing a longer-term concern: What if customers who fled the island after Hurricane Maria don’t come back?
Alternative data can be beneficial for individuals locked out of the financial system’s more conventional data types, but such data is open to manipulation or biased interpretation.
Bank of America is launching several upgrades to its mobile app meant to make the product more fun and essential to customers' daily lives. It is also expanding digital-only branches through which customers communicate with staff by video.
Citigroup expects to take a noncash charge to earnings of about $20 billion if the Senate's version of the tax reform bill is enacted, Chief Financial Officer John Gerspach said.
